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Quarterly Report For The Financial Period Ended 31 December 2016

Financials Archive

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Unaudited Condensed Consolidated Statements Of Comprehensive Income
For The Financial Period Ended 31 December 2016

Unaudited Condensed Consolidated Statements Of Comprehensive Income


Unaudited Condensed Consolidated Statements Of Financial Position
As At 31 December 2016

Unaudited Condensed Consolidated Statements Of Financial Position

Review of Performance for the Current Quarter and Financial Year-to-date

Performance of the respective operating business segment for the current quarter and financial year-to-date is analysed as follows:-

  1. IT Business

    Revenue and profit of the IT business segment in the current quarter was RM3.74 million and RM0.06 million.

    Revenue of the IT business segment in the current financial year-to-date decreased by RM3.07 million to RM11.36 million as compared to preceding financial year-to-date of RM14.43 million, mainly due to decreased in demand for customized software from new customers.

    This business segment reported a loss of RM0.68 million for the current financial year-to-date as compared to a loss of RM1.38 million in the preceding financial year-to-date. The loss for the current financial year-to-date is mainly due to decreased in revenue of the IT business segment and an impairment of the development cost of RM0.53 million recorded in the current financial year to-date.

  2. Online Games

    Revenue and profit of the online games segment in the current quarter is RM12.18 million and RM1.03 million. Revenue of the current quarter decreased by RM2.26 million compared to preceding year corresponding quarter due to lower purchase from online gaming customers. The business segment reported a profit of the current quarter of RM 1.03 million as compared to a loss of RM 2.85 million in the preceding year corresponding quarter. This is mainly due to recoverable of impairment loss on trade receivables of RM 1.3 million.

    Revenue of the online games business segment in the current financial year-to-date increased by RM3.21 million to RM45.52 million as compared to preceding financial year-to-date of RM42.31 million, mainly due to expanded resellers base in the respective countries.

    This business segment reported a profit of RM1.81 million for the current financial year-to-date as compared to a loss of RM2.00 million in the preceding financial year-to-date. The increase in profit is mainly due to recoverable of impairment loss of trade receivables of RM 1.30 million from the loss of impairment on trade receivables of RM 3.14 million recorded in preceding financial year.

Future Prospects

The business environment for 2017 is generally remain challenging and competitive for the Group as the sentiment about the economy outlook remains gloomy both locally and internationally.

The management will continue their effort to proactively searching and exploring new sales and market opportunities from its existing customers base and new prospects. Meanwhile, the management also exercising vigilant costs management and working aggressively to improve the overall cost structure in the organization's day to day operation.